EV Titans: BYD, NIO, Xiaomi Challenging Tesla

IntroductionChina’s electric vehicle (EV) industry has rapidly evolved into a global powerhouse, with companies such as BYD, NIO, and Xiaomi challenging Tesla’s dominance. Supported by government incentives, technological innovation, and strategic global expansion, these firms are redefining the EV market. Their focus on

EV Titans BYD, NIO, and Xiaomi’s Challenge to Tesla

IntroductionChina has emerged as the largest electric vehicle market in the world, accounting for more than half of global EV sales in 2024. Government subsidies, a vast consumer base, and aggressive manufacturing capacity have made the country the center of the global EV